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] >>> shrinking deficit projections are causing the street to rethink the program. steve liesman joins us on why it is more leakly. interesting after tepper's comments. >> right in line, the budget deficit increasingly seen as a catalyst for the fed to reduce its purchases of bonds to drive down interest rates. david tepper on squawk box yesterday flagging the problem faced by the fed. declining deficit means the governor will be selling less paper. the less paper the governor sel sells. right on cue, revising downward the fiscal yore 2013 by more than $200 billion from the earlier forecast to $642 billion. that compares with the deficit in fy 2012 with 1.2 million. the fed plans to buy more than $1 million a month in mortgages and that plan remains unchanged at least for now. credit suisse, the new deficit projections raise the sustainability of the purchase. we still look for a tapering with the risk and the small cut say $10 billion come sooner. ubs says the fed could find itself paying more than 100%. in order to maintain a stable accommodation of the qe, the fed would need to reduce their r
like the economy and the deficit and immigration reform while congress also spends so much time focused on discovering more and doing more in oversight on the scandals and controversies. here's what he had to say. >> we have to do our job to our constituents to do oversight of the federal government, we're not getting straight answers on benghazi. we're not getting straight answers on the irs. clearly we're worried about intimidation of the press with respect to the doj scandal. that doesn't mean we're only going to do that. >> his point is they can walk and chew gum at the same time, that members of congress have this oversight responsibility, but you heard him say, very pointedly, we're not getting straight answers on benghazi, we're not getting straight answers on the irs. there is a lot of feeling by republicans and even some democrats in congress that the testimony today by the acting irs commissioner did him more harm than good. even if he's on his way out the door, there are questions about whether or not he's distant from the obama administration in this. >> don't forget the ap
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